BUD vs XLP: Correlation
How closely do Anheuser-Busch Inbev SA Sponsored ADR (Belgium) (BUD) and Consumer Staples Select Sector SPDR Fund (XLP) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BUD and XLP?
On 3 years of weekly data the BUD/XLP correlation comes out at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 166.8 %².
XLP is one of the assets that tracks BUD most closely: it ranks #1 out of the 15 assets we track against BUD. Correlation aside, the last 12 months split them widely, with BUD ahead by 19.5 points (+27.8% versus +8.3%). Risk is not evenly split, since BUD carries 2.4 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BUD vs XLP: side by side
| BUD (Anheuser-Busch Inbev SA Sponsored ADR (Belgium)) | XLP (Consumer Staples Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +27.8% | +8.3% |
| 5-year return | +39.0% | +34.7% |
| Volatility (ann.) | 26.7% | 11.1% |
| Beta vs S&P 500 | 0.38 | 0.23 |
| Max drawdown (3Y) | -31.5% | -9.7% |
| Market cap | $155.8B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 1.50% | 2.58% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $14.6B |
| Sector / category | US Listed | Sector ETF |
On the fund side, XLP sits in the Consumer Defensive category at State Street Investment Management, with $14.6B under management, 35 holdings, a 0.08% expense ratio, a 2.58% trailing dividend yield.
Year-by-year returns
| Year | BUD | XLP |
|---|---|---|
| 2022 | +0.1% | -0.8% |
| 2023 | +9.0% | -0.8% |
| 2024 | -21.4% | +12.2% |
| 2025 | +30.1% | +1.5% |
| 2026 | +25.4% | +10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BUD and XLP good diversifiers for each other?
Only partially. A correlation of 0.56 means BUD and XLP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BUD and XLP?
The BUD/XLP correlation stands at 0.56 on a 3-year window (1 year: 0.63, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is XLP a good diversifier for BUD?
Only partially. A correlation of 0.56 means BUD and XLP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bud-vs-xlp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bud-vs-xlp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BUD correlations · XLP correlations
